Jihan blocks segwit on LTC: price crashes

[kiklo]

The anti segwit moves keep crashing prices, but anti segwit deniers will still claim it has nothing to do with it.

https://twitter.com/peeticek/status/854091120812445696

At the same time, f2pool started signaling segwit on BTC, and the price automatically pumped to $1200

https://twitter.com/cnLedger/status/854231735386611712

Segwit support remains a solid reason of price increase.

Hmm,

Exactly where did LTC price crash?

It was over $10 yesterday and still over $10 today.

No one cares about deadwit & ln , except the btc core trolls & banking cartels. 


 

[d.kevin29]

The anti segwit moves keep crashing prices, but anti segwit deniers will still claim it has nothing to do with it.

https://twitter.com/peeticek/status/854091120812445696

At the same time, f2pool started signaling segwit on BTC, and the price automatically pumped to $1200

https://twitter.com/cnLedger/status/854231735386611712

Segwit support remains a solid reason of price increase.

Hmm,

Exactly where did LTC price crash?

It was over $10 yesterday and still over $10 today.

No one cares about deadwit & ln , except the btc core trolls & banking cartels. 


 

It might have not crashed but the price progress did get slowed down by Jihan. It should have been over $15 now, if he wasn't here.

But the LTC community is great and will not let one guy turn everything upside-down. I still do hope this will turn out well for the whole community. There are just a few guys against Segwit, and sadly they have the most power to stop the activation progreaa. Over 35% difficulty raised in a matter of days..

[Quickseller]

The anti segwit moves keep crashing prices, but anti segwit deniers will still claim it has nothing to do with it.

https://twitter.com/peeticek/status/854091120812445696

At the same time, f2pool started signaling segwit on BTC, and the price automatically pumped to $1200

https://twitter.com/cnLedger/status/854231735386611712

Segwit support remains a solid reason of price increase.

Hmm,

Exactly where did LTC price crash?

It was over $10 yesterday and still over $10 today.

No one cares about deadwit & ln , except the btc core trolls & banking cartels. 


 

It might have not crashed but the price progress did get slowed down by Jihan. It should have been over $15 now, if he wasn't here.

That is baseless speculation.

FYI, LTC really does not need scaling, as their blocks are really not full. It is not uncommon for found blocks to have less than 10 transactions...

[squatz1]

I think the only reason he's doing this is that he doesn't want any coin to be able to say that they are adopting Segwit, it's working and then people on the Bitcoin chain would feel easier moving over to segwit. Jihan is only looking out for his business though (respectable but still) and only cares about the bottom line and that extra 30 percent he gets from Asic boost which Segwit would be patching.

Jihan is holding Bitcoin and now Litecoin hostage based on the simple fact that he wants to make more money. Someone is going to have to put him down or at least buy more miners so we're able to compete with such scum of the world.

It is understandable that the price would crash though, this scum fucked up the party.

[anonymoustroll420]

FYI, LTC really does not need scaling, as their blocks are really not full. It is not uncommon for found blocks to have less than 10 transactions...

They're not adding segwit for scaling. They're doing it for the atomic swap properties of lightning, allowing a Bitcoin user to pay a Litecoin user using a lightning exchange hub. Because litecoin's blocks are empty, it may be cheaper to do it that way. This will significantly increase the utility of Litecoin, thus making it more valuable.

[Searing]

The anti segwit moves keep crashing prices, but anti segwit deniers will still claim it has nothing to do with it.

https://twitter.com/peeticek/status/854091120812445696

At the same time, f2pool started signaling segwit on BTC, and the price automatically pumped to $1200

https://twitter.com/cnLedger/status/854231735386611712

Segwit support remains a solid reason of price increase.

So this is all about political agenda.  I wonder why they block segwit in Litecoin.  It would be best to let Segwit be activated in Litecoin and see the result.  I think they are afraid of Segwit since hey knew it is a game changer.  This definitely means what is happening in cryptocurrency is not about what is better but rather a political agenda for their own benefits.  

people say that bitmain is secretly running asic boost which gives them a 33% eff advantage over other miner pools...thus seg witness kills this...either way they want to do
it ..current hash rate method (lost) or by UASF..they won't let seg witness happen nor lose their monopoly on all ASIC equip of any flavor btc or ltc.... they will burn
LTC network to the ground to stop seq witness from happening on bitcoin....ie if LTC the hostage must die to make this point so be it.....

As far as I can tell the bitcoin core devs were correct......miners have too much power..hell bitmain now could do a 51% attack against litecoin network and the customers
who believed in LTC and bought their miners ..paid for this .....nice they had a firmware problem and delayed my orders..don't ya know..yeah I bet ..they are that lucky

also they have 70% on litecoin equip now and with NO one else making equip (due to asic boost advantage) as they kill all the old stuff on both networks
with newer equip eventually it will be 100%

not to mention I'd bet money they are gonna make an X11 miner and control that network as well

so full evil works...take money from customers.....(my case 4 L3+'s I planned to vote fo seg witness) use my $$ to put up the equiv of say 8 L3+'s to block
seg witness...claim a 'firmware problem' delay my miners 2 months ...triple difficulty...get 45% say of LTC hash so seg witness can never happen and take
all the profits expected by the mass majority of users ..to yourself for pulling this stunt...and then send me my miners I paid full price for 2 months before
at triple the difficulty..well played..well played indeed

win/win/win ...evil wins

I see no downside on this especially if they just decide to go private after all this and just make chips for their own data hall use like knc ...by chips i mean
any flavor btc or ltc

going full evil its what I'd do

[Herbert2020]

The anti segwit moves keep crashing prices, but anti segwit deniers will still claim it has nothing to do with it.

this was the worst news i heard and the worst part was when the % supporting SegWit on litecoin dropped. i can see the dicking around on bitcoin and SegWit but i don't get why they are trying so hard to prevent it on litecoin.
i still say SegWit on litecoin is a good thing and they should move ahead anyway they can even if it means splitting, it is still an altcoin with little use so that wouldn't be that bad. and since the leftover will be those against SegWit i don't think their hashrate is going to stay up forever.

At the same time, f2pool started signaling segwit on BTC, and the price automatically pumped to $1200
Segwit support remains a solid reason of price increase.

there are a lot of things at play regarding bitcoin price and F2Pool signalling SegWit (although a good news) is the smallest one.

[Kakmakr]

The anti segwit moves keep crashing prices, but anti segwit deniers will still claim it has nothing to do with it.

https://twitter.com/peeticek/status/854091120812445696

At the same time, f2pool started signaling segwit on BTC, and the price automatically pumped to $1200

https://twitter.com/cnLedger/status/854231735386611712

Segwit support remains a solid reason of price increase.

So this is all about political agenda.  I wonder why they block segwit in Litecoin.  It would be best to let Segwit be activated in Litecoin and see the result.  I think they are afraid of Segwit since hey knew it is a game changer.  This definitely means what is happening in cryptocurrency is not about what is better but rather a political agenda for their own benefits. 

The reason is simple. If SegWit is successful on LiteCoin, people will signal for it on Bitcoin and he is trying to prevent that from happening. He wants SegWit to fail, no matter on what Alt coin it is implemented. People like him, like to throw around their weight and force people to do what they want to do, because they can.

The end result will be the implementation of code to circumvent his powers. 

[Slark]

even if segwit was the most amazing scaling solution in the world, it wont help litecoin that much right now since litecoin barely has any merchants.  it was just a p&d.

Yet SegWit was the best thing that happened to Litecoin. Price of LTC was pretty much the same range of $3-$4 since 2014.
Litecoin was slowly dying and entered period of weakness and lethargy, and then SegWit came and boosted price to $10.
Price is still more than 2x what it used to be, so I see only pump here.

[Xester]

The anti segwit moves keep crashing prices, but anti segwit deniers will still claim it has nothing to do with it.

https://twitter.com/peeticek/status/854091120812445696

At the same time, f2pool started signaling segwit on BTC, and the price automatically pumped to $1200

https://twitter.com/cnLedger/status/854231735386611712

Segwit support remains a solid reason of price increase.

The LTC price increase was somehow very attractive and many have joined the flow only to find out that it is just a bubble. I lost a few dollars from investing in LTC only to find out that its value will go down. And all of those things will be attributed to the blocking of segwit in LTC. But life must go on and the best thing to do really is to stick with bitcoin to avoid those bubbles.

[Amph]

even if segwit was the most amazing scaling solution in the world, it wont help litecoin that much right now since litecoin barely has any merchants.  it was just a p&d.

not to mention that litecoin currently do not need segwit, unless segwit add something other than capacity, because litecoin have a 2.5 minutes block time, apparently many don't even know that this alone mean 4 x more transaction

even if segwit was the most amazing scaling solution in the world, it wont help litecoin that much right now since litecoin barely has any merchants.  it was just a p&d.

I think Litecoiners themselves would be the first to admit they won't have a capacity problem for a very long time, if ever. It would shine a light on them and attract more quality developers though.

It would do more than that. All of the various side chain devs could look to litecoin instead of bitcoin. Litecoin could pass over bitcoin in short order if that happened. How would you like LN to go with litecoin instead?

i really doubt that, segwit is not that useful for litecoin, it's just about hype and maybe helping bitcoin adopting it, litecoin will not go any where near dreaming to suprass bitcoin ever

[anonymoustroll420]

i really doubt that, segwit is not that useful for litecoin, it's just about hype and maybe helping bitcoin adopting it, litecoin will not go any where near dreaming to suprass bitcoin ever

Segwit allows for lightning, and lightning allows for cross-blockchain payments via atomic swaps. That means a Bitcoin user can send to a Litecoin user via a lightning exchange hub and vice versa. Also because litecoin's blocks are empty, it may be cheaper to do it this way than on the Bitcoin chain. It's a good idea for all alts to adopt segwit and lightning, it will increase their utility dramatically. Currently Litecoin is not widely accepted at businesses, this would allow litecoin owners to spend their LTC at BTC accepting businesses, without having to go thru exchange websites, it will all happen automatically behind the scenes.

[Quickseller]

i really doubt that, segwit is not that useful for litecoin, it's just about hype and maybe helping bitcoin adopting it, litecoin will not go any where near dreaming to suprass bitcoin ever

Segwit allows for lightning, and lightning allows for cross-blockchain payments via atomic swaps. That means a Bitcoin user can send to a Litecoin user via a lightning exchange hub and vice versa. Also because litecoin's blocks are empty, it may be cheaper to do it this way than on the Bitcoin chain. It's a good idea for all alts to adopt segwit and lightning, it will increase their utility dramatically. Currently Litecoin is not widely accepted at businesses, this would allow litecoin owners to spend their LTC at BTC accepting businesses, without having to go thru exchange websites, it will all happen automatically behind the scenes.

I have not heard about this cross blockchain transactions via LN prior to your post, although, I guess it does make sense if transactions can move from LN hub to LN hub.

I would however point out that all BTC LN hubs may not be able/willing to exchange BTC for LTC, so you may need to have your transaction go through a higher than normal number of 'hops' in order to get to a LN hub that is willing to do this.

I would also point out that a BTC LN hub will likely want a commission to exchange BTC for LTC (similar to how shapeshift.io takes a spread/commission), so going between blockchains might not be as frictionless as you imply.

[AngryDwarf]

Slush Pool stops fucking around with 1 block SW and another one BU

Slush is providing miners with a choice of what to vote for and not taking a stance himself unfortunately. I have mixed opinions about this since it means the individual miners are actually making the decision but I feel pool operators have a responsibility to help display unity and effect coordinated change.

If a pool is signaling for SegWit, and you are a supporter of SegWit, and an owner of mining equipment, then you might want to have your equipment pointed at that pool. If you are a supporter of BU and/or actively dislike SegWit, then you would probably not point your equipment at that pool, and if you already have your equipment pointed at that pool, you would probably move it to another pool. If you are neutral, then you will probably base your decision on other factors.

The opposite is also true for pools that are signaling for BU.

At the end of the day, the hashrate split of SW/BU signaling is based on the opinions and beliefs of mining equipment operators/owners. Slush is simply allowing owners to have either opinion on the scaling debate and still have the ability to keep their equipment pointed at slush.

Slush Pool stops fucking around with 1 block SW and another one BU

Slush is providing miners with a choice of what to vote for and not taking a stance himself unfortunately. I have mixed opinions about this since it means the individual miners are actually making the decision but I feel pool operators have a responsibility to help display unity and effect coordinated change.

I suppose there is nothing wrong with giving miners a choice, but once one solution has shown to have the greater hash rate support, the pool should probably then enforce that choice for all miners.

The miners will always have a choice. If the pool is not signaling a certain choice that conforms with the miner's choice, the miner will simply point their equipment elsewhere.

I think you have made a very good distinction between a 'soft vote' and a 'hard vote' there. 

[anonymoustroll420]

I have not heard about this cross blockchain transactions via LN prior to your post, although, I guess it does make sense if transactions can move from LN hub to LN hub.

I would however point out that all BTC LN hubs may not be able/willing to exchange BTC for LTC, so you may need to have your transaction go through a higher than normal number of 'hops' in order to get to a LN hub that is willing to do this.

I would also point out that a BTC LN hub will likely want a commission to exchange BTC for LTC (similar to how shapeshift.io takes a spread/commission), so going between blockchains might not be as frictionless as you imply.

More info here:
https://bitcoinmagazine.com/articles/atomic-swaps-how-the-lightning-network-extends-to-altcoins-1484157052/

Also Coblee's post about it:
https://segwit.org/my-vision-for-segwit-and-lightning-networks-on-litecoin-and-bitcoin-cf95a7ab656b

The way I understand it, it simply needs to be a hub that opens channels with Bitcoin and Litecoin users. Hubs will charge transaction fees, and they may decide to charge extra transaction fees for LTC users, but it is a free market, it's relatively easier to setup a LN hub than an altcoin exchange and there may be much less regulation, so there will be a lot of competition so it will likely be much cheaper than existing exchanges. LN will also take the best route. From an end users perspective, all they will have to do is type in a litecoin address and LN handles the rest. This is why BTC segwit addresses start with bc1, ltc will have a different prefix.

[DoublerHunter]

Just checked the market and it is true that the price of Litecoin just crashed and it is going down now, so it is a sign that segwit is not successful in litecoin for their implementation, so i think it is not good for bitcoin also. Litecoin price will go back below 500k satoshi again and for sure the last pump of the litecoin is just a hype.

[Calangaman]

Segwit will be implemented with or without Jihan.
It will just take more time and require a user activated soft fork...

[kiklo]

Segwit will be implemented with or without Jihan.
It will just take more time and require a user activated soft fork...

LOL,

Please do that , it will be the funniest thing I have seen all year.  
Don't forget the PoW change.  


 

FYI:
If the Guy can pull up a batch of ASICS , out of the Blue, what makes you think he can't activate a few hundred VPS to run as full nodes on the old software.
BTC network will Split, <40% for segwit and the other 60% goes to classic & BTU combined.

[pedrog]

Blocking SegWit in litecoin was a major dick move, not just to users and other miners but also to the people who bought the miners they are using to block SegWit with.

Those guys have no ethics whatsoever.

[kiklo]

Blocking SegWit in litecoin was a major dick move, not just to users and other miners but also to the people who bought the miners they are using to block SegWit with.

Those guys have no ethics whatsoever.

Called it. 

Hmm,

Chinese Mining Pools Control the Majority of the Hash on Bitcoin (where it is being blocked) & on Litecoin (Where it is close to being activated.)

Same guys activating one and blocking the other. 


 


 


FYI:
Lucy is the Chinese, and you're the bald kid?